GroundTruth, a US-based consumer data analytics provider backed by software producer Microsoft and telecommunications and internet group SoftBank, has secured $18m in equity funding according to a regulatory filing.
Formerly known as xAd, GroundTruth tracks visitor traffic and behaviour in offline locations and provides the data to businesses to help them understand consumer behaviour and target advertising more effectively.
The new funding increases the total raised by the company to $147m altogether, $15m of which came in a 2008 round reportedly backed by SoftBank subsidiary SoftBank Capital, Emergence Capital, Palisades Ventures and Sorrento Ventures.
The compay’s earlier investors reportedly included Siemens Mobile Acceleration, part of industrial technology provider Siemens. SoftBank Capital and Emergence Capital later joined Silicon Valley Bank for a $50m debt and equity round for GroundTruth in 2014.
Emergence subsequently led the company’s $42.5m series E round in late 2016, investing together with M12, the Microsoft unit then known as Microsoft Ventures, W Capital and Institutional Venture Partners.